Another zipper at a full point above yesterday's low. In the meantime the small caps are rambunctious today following their straight up streak with a zipper connecting to a quick drop that has paused at yesterday's close/VWAP. They are still 5 points above yesterday's low so we will see if they catch down to the ES.

fehro wrote:/CL stalled at 50w SMA near HOW, 49.35 but could not tag 200d 49.58… 60m /CL H&S .. broke down.. mind the 20d/50d/20w just under us 47.60/.52/.35 look for a tag/support if $48.00 goes… weekly /CL candle not pretty..

Not really, North Korea can fulfill that target overnight![/quote]Contrarian view "IF" that was to happen, Yen will tank so hard, the USD will explode up.. and hammer gold… to the shock of all .. imo.[/quote]

Fehro,

Are you playing Crypto currencies? War can take this bubble to sky...Bitcoin to 10k...

Contrarian view "IF" that was to happen, Yen will tank so hard, the USD will explode up.. and hammer gold… to the shock of all .. imo.[/quote]

Fehro,

Are you playing Crypto currencies? War can take this bubble to sky...Bitcoin to 10k... [/quote]

not so sure on the BITcoin 10K call… bubble territory.. possible here.. H&S daily, China, Russia news.. moving to make crypto accounts illegal… take the Trillions of dollars in BTC where is it going to move? USDollar, another reason for even a steeper climb…. gold will get destroyed… all crazy talk..

In analyzing SPY on a daily timeframe, note how most indicators of cumulative volatility and fluctuation are showing the same overall flatness and sideways-ness as price.

But ATR, interestingly, across multiple timeframes (5day, 8day, StockCharts default 14day) is not at a low level.

This indicates that there have been multiple wide-range days, intermixed with very low-flux days like today.

We are currently forming a third inside day on SPY, so a possible conclusion to this thesis might be a really dramatic move, re-establishing trend, which comes all at once or over two days, rather than grindingly.

This would bring ADX and ROC and such, which are reading at multimonth lows, more in line with ATR which is reading more mid-range.

(edit: Note, ROC is not at an absolute LOW, what I meant is that it is hugging the Zero line, low in the sense of being flat.)

Today's leading sectors are homebuilders and financials. The latter has been pulled up by strong perf from its Insurance sub-sector.

KIE, the ins etf, has been up as much as 3% today! But, how many traders will want to be holding these gains over the coming weekend..? Am therefore watching KIE closely in the final hour... as well as the broad financial ETFs.

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